Wakefield Township

Economic Development

Renaissance Zones

Renaissance Zones are regions of the state of Michigan set aside as virtually tax-free for any business or resident presently located in or moving to one of the zones—and there is no paperwork.

Renaissance Zones are an economic development breakthrough that originated here in Michigan, and are now being copied by other states. In three years, the initial 11 zones have spurred more than $315 million of private investment in 126 projects and creation of 3,612 jobs.

The taxes that companies and residents do not pay are nearly all the state and local taxes levied on business activity. They are:
Single Business Tax
State personal income tax
6-mill state education tax
Local personal property tax
Local real property tax
Local income tax
Utility users tax

Taxes still due are those mandated by the federal government or local bond obligations:
Social Security tax
Unemployment compensation
Worker’s compensation
Sewer and water fees
Property taxes resulting from local bonded indebtedness or special assessments
State 6 percent sales tax (Michigan does not allow local sales tax)

Best of all, there is no paperwork. Businesses or individuals who move into a zone can just start keeping their tax dollars.

Gogebic County Economic Development

Planter Land

Michigan Economic Development

BUSINESSES IN WAKEFIELD TOWNSHIP

Extreme Tool and Engineering 

(906)229-9100

 800-562-201

Floral Gardens

906-229-5460

MD Associates  Antique Car Restoration 

906-224-1400

  906-229-5212

906-224-1107

Porcupine             Cabinets                     

  906-224-7976

WAKEFIELD TOWNSHIP BUSINESS AND ECONOMIC DEVELOPMENT OPPORTUNITIES

VACANT LAND--Located at Planter Road and Chippewa Drive in the Renaissance Zone.  Two vacant 1.5 acre lots are available.  If you need more property Gogebic County Forestry owns an entire section of property which may be available for additional purchase or lease. There is rail access near this property and a ready railroad siding about 1 mile away. The property is served by well and septic with a creek nearby for high volume water users. The Renaissance Zone benefits begin to phase out in 2009 with a completion date of 2011. After that the township may entertain additional tax relief. This excellent location has another business nearby and is serviced by an all season road.

VACANT LAND ON US-2 PRIME FOR DEVELOPMENT--The second site is located on US-2 about 2 miles west of the M-28/US-2 intersection in Wakefield. Also a Renaissance Zone, which benefits expire in 2017 is privately owned, and the owners ready to sell parcels on this 32 acre tract.  This site is serviced by the City of Wakefield sewer and water system, and has large volume and capacities in both utilities, in addition to other infrastructure needs. It is in an excellent location with three other businesses nearby.

In addition to the fact that both of these properties are in Renaissance zones there may be other state and federal programs to help the prospective business owner. Contact John Cox at 906-224-3721.

Planter Road Land

US-2 Land